Peak in bad debts is behind us, says outgoing Nedbank CEO as he prepares for exit

06 Mar

Garth Theunissen

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Nedbank Group CEO Mike Brown during the company’s 50th anniversary listing on the Johannesburg Stock Exchange (JSE) on August 28, 2019 in Sandton. (Gallo Images/Freddie Mavunda)

Outgoing Nedbank CEO Mike Brown is confident he's leaving South Africa's fifth-largest bank by market value in better shape than when he joined more than 30 years ago.

Brown is due to retire on his 58^th birthday, which coincides with the bank's annual general meeting (AGM) on 31 May. That will see him hand over the reins of the bank to outgoing Absa group financial director Jason Quinn on the same day.

"When I was appointed, everyone always said, 'so what do you want your legacy to be?'," Brown told News24, adding:

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